Ferrari Ends Production of SF90, Roma, and 812 GTS

Welcome to the 50th edition of Maximalist! Dive into the ultimate guide, filled with insider insights into the world of fashion, art, real estate, travel, jewelry, and horology.

The world of luxury is never boring, and this week is no exception. Let’s dive in!

Markets

On this week’s agenda:

1. Ferrari Ends Production of SF90, Roma, and 812 GTS

2. Banksy’s “London Zoo” Series is Complete

3. H3 Superyacht Back on Market

4. Moët & Chandon Returns to U.S. Open

5. Sales Decline at Versace, Jimmy Choo, and Michael Kors

Ferrari Ends Production of SF90, Roma, and 812 GTS

In a notable strategic shift, Ferrari has ceased production of its acclaimed SF90 Stradale, along with the Roma and 812 GTS, marking the end of an era and the beginning of a new chapter in the storied automaker’s history. This decision reflects Ferrari's ongoing evolution and its commitment to integrating more advanced technologies into its lineup.

The SF90 Stradale, introduced in 2019, was Ferrari's pioneering venture into hybrid technology, setting new benchmarks for performance with its innovative design and engineering. This model not only featured a powerful 4.0-liter twin-turbocharged V8 engine but also incorporated three electric motors, collectively delivering an astonishing 986 horsepower. This hybrid setup enabled the SF90 to deliver unprecedented performance that rivaled even the LaFerrari, Ferrari’s previous hypercar.

The discontinuation of the SF90 Stradale and its Spider variant signifies a poignant moment for Ferrari, as it transitions from these groundbreaking models that have significantly influenced the supercar landscape. However, Ferrari will continue to produce the SF90 XX, a more extreme and track-focused version of the SF90, catering to a niche segment of enthusiasts and racers.

Alongside the SF90, Ferrari also announced the end of the line for the Roma and the 812 GTS. The Roma, known for its sleek design and versatile performance, offered a contemporary take on the classic grand tourer with a front-engined, rear-wheel-drive layout that appealed to both traditional and new Ferrari clients. Its discontinuation creates space in Ferrari’s lineup for future grand touring models, potentially with advanced electrification technologies.

The 812 GTS, the open-top version of the formidable 812 Superfast, combined breathtaking performance with the exhilaration of open-air driving, powered by Ferrari’s massive 6.5-liter V12 engine. Its replacement, the 812 Cilindri, promises to uphold the V12 tradition while integrating hybrid technology to enhance efficiency and performance, indicating Ferrari's commitment to harmonizing high performance with environmental considerations.

Ferrari is not retreating from the hybrid sector; in fact, it is intensifying its efforts. Early spy shots and industry leaks suggest that Ferrari is developing a successor to the SF90 that will not only adopt its hybrid philosophy but also enhance it. This next-generation model is rumored to maintain the robust V8 engine while improving the electric componentry to push the total output beyond the original SF90’s capabilities. These enhancements will likely include cutting-edge battery technology to offer greater electric-only range, addressing one of the primary limitations of current hybrid supercars.

Despite the discontinuation of these iconic models, Ferrari’s recent financial reports show a resilient performance, with a significant uptick in deliveries driven by the popularity of the Purosangue SUV and the 296 GTB/GTS models. This strategic realignment appears to resonate positively with investors and enthusiasts alike, evidenced by a noticeable increase in Ferrari's stock price following the announcement.

As Ferrari phases out the SF90, Roma, and 812 GTS, it reaffirms its dedication to innovation and excellence in automotive engineering. By adapting to the evolving demands of the market and pushing the boundaries of technology, Ferrari ensures that it not only remains at the forefront of the luxury automotive industry but also shapes its future direction. This commitment is set to continue guiding Ferrari as it develops new models that blend performance, luxury, and sustainability into the ultimate driving experience.

Banksy’s “London Zoo” Series is Complete

In a remarkable display of artistic expression, Banksy has captured the attention of London and the world with a series of 7 animal-themed artworks unveiled across the city over the past week. Dubbed the 'London Zoo' series, these installations have sparked both admiration and controversy.

The series kicked off with a striking image of a goat, positioned on the side of a building at Kew Bridge, complete with tumbling rocks depicted below it. A strategically placed CCTV camera pointed directly at the mural, possibly hinting at themes of surveillance or oversight. This piece set the tone for a week filled with visual surprises from the elusive artist.

Following the goat, Banksy's installations included two elephant heads with trunks outstretched toward each other in Chelsea, and three monkeys strategically placed on a bridge in Brick Lane, each artwork adding to the urban menagerie. The imagery continued with a howling wolf on a satellite dish in Peckham, portrayed as if it were the full moon, which unfortunately was stolen shortly after its installation.

As the week progressed, Banksy adorned a fish and chip shop in Walthamstow with a mural of pelicans feasting on fish, further enhancing the animal theme. This was followed by a wild cat sprawling across an abandoned billboard in Cricklewood, which was dismantled within hours of its reveal, much to the dismay of onlookers.

The series concluded with a dramatic transformation of a police box into a tank of bloodthirsty piranhas in London’s financial district, a bold statement that capped off the week-long initiative. This particular piece was cordoned off shortly after its appearance, with the City of London Police citing concerns of "criminal damage."

Each piece in the 'London Zoo' series was shared by Banksy on his Instagram account, continuing his practice of claiming his work without captions, leaving interpretations largely to the public and art critics. The works have been met with a mix of awe and speculation, with many attempting to decipher the deeper meanings behind each piece. Some see them as commentary on political issues, while others appreciate them as moments of unexpected joy in everyday urban settings.

Unfortunately, not all of Banksy’s artworks survived the week intact. Besides the stolen howling wolf, other pieces faced removal or destruction, a recurring challenge for street art that becomes highly coveted. Despite these challenges, Banksy's ability to stir conversation and provoke thought through his art remains undiminished, ensuring his 'London Zoo' series will be remembered as a significant cultural moment in London's contemporary art scene.

H3 Superyacht Back on Market

The 105.3-meter superyacht H3, crafted by the renowned Dutch shipyard Oceanco and designed by The A Group, is now on sale following a comprehensive refurbishment completed in 2024, announced by broker Will Bagshaw of Edmiston. Originally launched as a 95-meter vessel in 2000, H3 underwent a significant extension during the rebuild, adding 10 meters overall—eight at the aft and two at the bow. The yacht, which has been known by several names including Al Mirqab, Indian Empress, and Neom, is currently docked in the Western Mediterranean with a price tag of €295,000,000.

The redesign of both the interior and exterior was led by Reymond Langton Design, while the naval architecture was a collaborative effort between Lateral Naval Architects and Oceanco. The revamped H3 features a drastically transformed superstructure with curvier lines and increased window space—from 220 square meters to 392 square meters—enhancing the brightness and views within its interior. The interior design itself strikes a balance between relaxed comfort and subtle luxury, as described by Andrew Langton.

The yacht's deck features include a sizeable pool with a waterfall on the main deck, an extensive spa and wellness area on the lower deck, which includes facilities like a hairdresser and nail salon, and on the sun deck, a whirlpool situated to offer forward views, complemented by a well-equipped gymnasium.

H3 accommodates up to 20 guests across 10 cabins, with a standout forward-facing master suite on the owner's deck, featuring amenities such as a lounge/cinema room and a dining area that seats 14. This deck also boasts a climate-controlled winter garden with a dining table capable of hosting up to 32 guests. The VIP suite on the bridge deck includes a private terrace, and there are additional five double and three twin cabins on the main deck.

Powered by twin MTU diesel engines, H3 reaches a top speed of 18 knots and a cruising range of 6,000 nautical miles at 14 knots. It meets IMO Tier III standards, reflecting modern demands for sustainability and reduced environmental impact in yachting.

Other notable features include a touch-and-go helipad, suitable for an EC155 helicopter, and a selection of tenders comprising a 10.1-meter Compass Open Sport, an 11.1-meter Compass Limo, and two 6.2-meter Yachtwerft Meyer rescue tenders.

With its extensive rebuild, H3 not only enhances its own luxury and performance but also sets a benchmark in modern yachting standards.

Moët & Chandon Returns to U.S. Open

Moët & Chandon has officially marked its return as the exclusive champagne sponsor of the U.S. Open, resuming a partnership that had previously flourished from 2011 to 2014. This historic reunion between the French champagne house and the U.S. Tennis Association (USTA) enhances the tournament's allure as it gears up to follow the excitement of Olympic tennis.

"We are proud to return as a partner of the U.S. Open and the USTA, continuing a shared history," expressed Sibylle Scherer, President & CEO of Moët & Chandon. Scherer emphasized the synergy between tennis and champagne, both of which celebrate excellence, preciseness, and teamwork. "This collaboration further strengthens Moët & Chandon's commitment to the world of sports, and we are delighted to bring our French Art de Vivre to this iconic tournament," she added, highlighting the brand's anticipation to enrich the U.S. Open experience with the joy of champagne.

Founded in 1743 by Claude Moët, the champagne house has a longstanding association with tennis, underscored last year by a collaboration with tennis legend Roger Federer. During this year's U.S. Open, set to commence on Monday, August 26, with the finals scheduled for the first weekend of September, Moët & Chandon will ensure that champagne flows generously across the Billie Jean King National Tennis Center. Notably, the Moët & Chandon Clubhouse bar will offer guests a luxurious spot to enjoy the matches, along with exclusive Moët & Chandon and U.S. Open Golden Goblets available for purchase.

"Moët & Chandon is a partner befitting the U.S. Open experience, and we're thrilled to have them on board," stated Deanne Pownall, Managing Director of Corporate Partnerships at USTA. "Uniting a renowned global brand with one of the world's premier sports and entertainment events is a partnership that will make the U.S. Open all the more spectacular for our fans."

In addition to the competitive matches, the U.S. Open will also host "Fan Week" prior to the main draw, featuring an exhibition mixed doubles match with teams including Aryna Sabalenka and Taylor Fritz, as well as Coco Gauff and Ben Shelton. This series of events sets the stage for a truly memorable U.S. Open, filled with high stakes tennis and high spirits courtesy of Moët & Chandon.

Sales Decline at Versace, Jimmy Choo, and Michael Kors

Capri Holdings, the parent company of luxury fashion brands Versace, Jimmy Choo, and Michael Kors, has reported a significant downturn in sales in the first quarter of the fiscal year 2025, ending on June 29, 2024. The company experienced a net operational loss, with revenues dropping by 13.2 percent to $1.06 billion compared to the previous year.

John D. Idol, the chairman and CEO of Capri Holdings, expressed disappointment in the quarterly results, attributing the decline to a global reduction in demand for luxury fashion items. Despite this downturn, Idol noted that the company added 12.6 million new consumers to their databases, a 15 percent increase from last year, indicating strong brand loyalty and value.

The company’s financial troubles spanned all regions, with Versace, Jimmy Choo, and Michael Kors each reporting sales declines across the Americas, Europe, the Middle East, Africa, and Asia. Versace's revenue fell by 15 percent to $219 million, with the most significant losses in the EMEA and Americas regions. Michael Kors saw a decrease across all major markets, totaling $675 million, a decline led by a 23 percent drop in Asia. Jimmy Choo’s revenue was down 5.5 percent, ending at $173 million, with modest declines in EMEA and the Americas, and a sharper 17 percent fall in Asia.

Despite the challenging quarter, Capri Holdings remains optimistic about its future, particularly regarding its upcoming court battle with the U.S. Federal Trade Commission (FTC) over its planned merger with Tapestry, which owns brands like Coach, Kate Spade, and Stuart Weitzman. The FTC has raised concerns that the merger would overly dominate the luxury handbag market. However, Idol is confident of a favorable outcome, emphasizing that the merger would benefit shareholders and provide new opportunities for employees by creating a more diversified company with enhanced global reach.

Thank you for supporting the world of luxury.